dWallet Labs Unveils Tiresias: Advancing MPC for Web3 with Unprecedented Scale and Speed
dWallet Labs, a cybersecurity company specializing in blockchain technology, has announced a development in the form of Tiresias. This work enables the application of massive-scale threshold Paillier settings involving thousands of parties in real-world scenarios. The introduction of Tiresias paves the way for trustless multiparty computation (MPC) among thousands of participants, setting a new standard for scalability and speed.
MPC and threshold cryptography play crucial roles in securing assets and eliminating the vulnerabilities associated with single private keys, a widely adopted practice in Web3 by financial institutions and users alike. While existing threshold ECDSA protocols have made significant contributions, they are hindered by the requirement for a trusted setup and limitations in participant numbers.
MPC protocols of this nature either rely on a trusted setup or are constrained by performance, restricting participation to a very small number of individuals. In Web3, strong decentralization is key to achieving trustlessness, making it imperative to expand the number of participants beyond current limits.
Yehonatan Cohen Scaly, CTO at dWallet Labs and Co-Founder of Odsy Network
Presently, MPC implementations are confined to only a handful of participants, severely limiting the potential of MPC in Web3. Even the most inclusive protocols, like THORChain, struggle to accommodate more than 20 participants with a threshold of ⅔, falling far short of achieving true decentralization.
The constraint on the number of MPC participants is primarily rooted in the complexity of communication. Existing state-of-the-art protocols require unicast communication between participants, leading to a quadratic growth in complexity as more participants are added. This communication challenge poses a significant obstacle when integrating MPC into a blockchain setting.
Dolev Mutzari, VP of Research at dWallet Labs and co-author of the Tiresias paper, highlights the breakthrough, stating, “Blockchains operate on a consensus layer that provides a reliable broadcast channel but lacks the required unicast communication for traditional MPC protocols. Tiresias replaces unicast communication with broadcast communication, preserving the fundamental design of a blockchain while significantly reducing communication complexity from quadratic to linear. This breakthrough potentially enables threshold protocols with hundreds, thousands, or even tens of thousands of participants.”
To demonstrate the practicality and efficiency of Tiresias, dWallet Labs has released an open-source implementation in pure Rust. Benchmarking results showcase unparalleled performance, with 100 decryptions by 100 parties achieved in a mere 1.5 seconds and 1,000 decryptions by 1,000 parties completed in 266 seconds. These remarkable achievements present a groundbreaking opportunity for large-scale permissionless networks to generate threshold ECDSA signatures.
Omer Sadika, CEO of dWallet Labs and Co-Founder of Odsy Network, emphasizes the significance of these advancements, stating, “To bring our vision of dWallets and the Odsy Network to life, we needed to achieve several breakthroughs. The first critical milestone was expanding the number of participants in threshold protocols. We are incredibly excited and proud of our research team for this remarkable achievement, and we eagerly anticipate sharing further breakthroughs as we forge ahead in building the world’s first decentralized access control layer for the entire Web3 ecosystem.”
For more information about dWallets and the Odsy Network, please visit odsy.xyz.
ABOUT DWALLET LABS
dWallet Labs Ltd., a cybersecurity company specializing in blockchain technology based in Tel Aviv, Israel, is leading the Odsy Network research and development efforts, with the mission of building protocols and solutions on top of the Odsy Network and providing professional services and support to other organizations building on the Odsy Network. The team has extensive experience and knowledge in cybersecurity, cryptography, and blockchain technology. More information is available at dwalletlabs.com.
ABOUT ODSY NETWORK & DWALLETS
The Odsy Network provides a secure, programmable, decentralized access layer to all of Web3. dWallets are linked to Wallet dedicated smart contracts, which allow for the management of dWallet access control and privileges, as well as the implementation of any protocol on top of the Odsy Network. The Odsy Network is a blockchain that prioritizes security and allows for multi-chain interoperability via programmable and transferable wallets. Visit odsy.xyz to learn more about Odsy and dWallets.
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About The Author
Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
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Gregory, a digital nomad hailing from Poland, is not only a financial analyst but also a valuable contributor to various online magazines. With a wealth of experience in the financial industry, his insights and expertise have earned him recognition in numerous publications. Utilising his spare time effectively, Gregory is currently dedicated to writing a book about cryptocurrency and blockchain.
